How Can I Upgrade My Insurance — Tax-Free? by Joe Swanson, CRPS of www.joeswanson.com
Responding to the changing needs of consumers, the life insurance industry has developed some exciting alternatives. These alternatives go much further in satisfying a variety of financial needs and objectives than traditional types of insurance and annuities. Advancements Modern contracts offer much more financial flexibility than traditional alternatives. For example, universal life and variable universal life insurance policies allow you to adjust premiums and death benefits to suit your financial needs. Modern contracts can also provide you with much more financial control. While traditional vehicles like whole life insurance and fixed annuities provide returns that are determined by the insurance company, newer alternatives enable you to make the choices that will determine your returns. For example, variable annuities and variable universal life insurance allow you to allocate your premiums among a variety of investment subaccounts. These subaccounts range from conservative choices, such as fixed-interest and money market portfolios, to more aggressive, growth-oriented portfolios. Your returns will be based on the performance of these subaccounts. Withdrawals made from a variable annuity prior to age 591/2 may be subject to a 10 percent penalty. Generally, a surrender penalty will apply if the withdrawal is made during the early years of the policy. Variable annuity subaccounts fluctuate with changes in market conditions. When surrendered, your principal may be worth more or less than the original amount invested. There are many differences between variable- and fixed-insurance products. Variable universal life insurance offers several investment subaccounts that invest in a portfolio of securities whose principal and rate of return fluctuate. Also, there are additional fees and charges associated with a variable universal life insurance policy that are not found in a whole life policy, such as management fees. Whole life insurance offers a fixed account, generally guaranteed by the issuing insurance company. A Dilemma So what do you do if you’ve accumulated a substantial amount within your old life insurance policy or annuity? If you cash out your existing contracts and trade up to one that better suits your financial needs, you will have to pay income taxes on what you’ve saved. One solution to this problem is known as the “1035 exchange,” found in Internal Revenue Code Section 1035. This provision allows you to exchange an existing insurance or annuity contract for a newer contract without having to pay taxes on the accumulation in your old contract. This way, you gain new opportunities for flexibility and tax-deferred accumulation without paying taxes on what you’ve already built up.The rules governing 1035 exchanges are complex, and you may incur surrender charges from your “old” policy. In addition, you may be subject to new sales and surrender charges for the new policy. You’ll need the help of a financial professional. But it may be worth it. If you want to take advantage of today’s modern alternatives, consider a 1035 exchange.
Joe Swanson Minnesota Financial Planner© 2006 Emerald Publications
Joe Swanson, CRPS • Principal Financial Group, • 11100 Wayzata Blvd, Suite 161 • Minnetonka, MN • 55305 • Phone: (952) 277-4259 Toll Free: 800 277-7095 • Fax: (952) 277-4301 • www.joeswanson.com • swanson.joe@principal.com
Sunday, December 31, 2006
Saturday, December 30, 2006
by Joe Swanson Minnesota Financial Advisor / Planner
How Can I Keep My Money from Slipping Away? by Joe Swanson Minnesota Financial Advisor / Planner
As with virtually all financial matters, the easiest way to be successful with a cash management program is to develop a systematic and disciplined approach.
By spending a few minutes each week to maintain your cash management program, you not only have the opportunity to enhance your current financial position, but you can save yourself some money in tax preparation, time, and fees.
Any good cash management system revolves around the four As — Accounting, Analysis, Allocation, and Adjustment.
Accounting quite simply involves gathering all your relevant financial information together and keeping it close at hand for future reference.
Gathering all your financial information — such as mortgage payments, credit card statements, and auto loans — and listing it systematically will give you a clear picture of your overall situation.
Analysis boils down to reviewing the situation once you have accounted for all your income and expenses. You will almost invariably find yourself with either a shortfall or a surplus.
One of the key elements in analyzing your financial situation is to look for ways to reduce your expenses. This can help to free up cash that can either be invested for the long term or used to pay off fixed debt.
For example, if you were to reduce restaurant expenses or spending on non-essential personal items by $100 per month, you could use this extra money to prepay the principal on your mortgage. On a $130,000 30-year mortgage, this extra $100 per month could enable you to pay it off 10 years early and save you thousands of dollars in interest payments.
Allocation involves determining your financial commitments and priorities and distributing your income accordingly. One of the most important factors in allocation is to distinguish between your real needs and your wants.
For example, you may want a new home entertainment center, but your real need may be to reduce outstanding credit card debt.
Adjustment involves reviewing your income and expenses periodically and making the changes that your situation demands.
For example, as a new parent, you might be wise to shift some assets in order to start a college education fund for your child.
Using the four As is an excellent way to help you monitor your financial situation to ensure that you are on the right track to meet your long-term goals.
© 2006 Emerald Publications
Joe Swanson, CRPS 401k Minnesota Financial Advisor Planner
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259 Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
http://www.joeswanson.com/research.cfm
http://www.joeswanson.com/location.cfm
Joe Swanson Minnesota Financial Planner
Joe Swanson, CRPS Minnesota Financial Advisor
Minnesota Financial Advisor
Minnesota 401k Expert
As with virtually all financial matters, the easiest way to be successful with a cash management program is to develop a systematic and disciplined approach.
By spending a few minutes each week to maintain your cash management program, you not only have the opportunity to enhance your current financial position, but you can save yourself some money in tax preparation, time, and fees.
Any good cash management system revolves around the four As — Accounting, Analysis, Allocation, and Adjustment.
Accounting quite simply involves gathering all your relevant financial information together and keeping it close at hand for future reference.
Gathering all your financial information — such as mortgage payments, credit card statements, and auto loans — and listing it systematically will give you a clear picture of your overall situation.
Analysis boils down to reviewing the situation once you have accounted for all your income and expenses. You will almost invariably find yourself with either a shortfall or a surplus.
One of the key elements in analyzing your financial situation is to look for ways to reduce your expenses. This can help to free up cash that can either be invested for the long term or used to pay off fixed debt.
For example, if you were to reduce restaurant expenses or spending on non-essential personal items by $100 per month, you could use this extra money to prepay the principal on your mortgage. On a $130,000 30-year mortgage, this extra $100 per month could enable you to pay it off 10 years early and save you thousands of dollars in interest payments.
Allocation involves determining your financial commitments and priorities and distributing your income accordingly. One of the most important factors in allocation is to distinguish between your real needs and your wants.
For example, you may want a new home entertainment center, but your real need may be to reduce outstanding credit card debt.
Adjustment involves reviewing your income and expenses periodically and making the changes that your situation demands.
For example, as a new parent, you might be wise to shift some assets in order to start a college education fund for your child.
Using the four As is an excellent way to help you monitor your financial situation to ensure that you are on the right track to meet your long-term goals.
© 2006 Emerald Publications
Joe Swanson, CRPS 401k Minnesota Financial Advisor Planner
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259 Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
http://www.joeswanson.com/research.cfm
http://www.joeswanson.com/location.cfm
Joe Swanson Minnesota Financial Planner
Joe Swanson, CRPS Minnesota Financial Advisor
Minnesota Financial Advisor
Minnesota 401k Expert
Friday, December 15, 2006
Sandwiched Between Two Generations?
Sandwiched Between Two Generations?
Joe Swanson www.joeswanson.com Minnessota Financial Advisor Website
(ARA) - It's not corned beef on rye or ham and cheese. The "sandwich" generation is the 40-something Americans, sandwiched between two generations: their parents and their children. And today, many are being squeezed by the responsibilities of caring for both -- often all in the same household.
But how do you prepare a household to meet the diverse needs that may range from infant to elderly? Luckily, recent innovations can help this generation make their home safer and more accessible for both their children and their parents while remaining functional and stylish.
Avoid the Bathroom Blues
About 30 percent of all accidents in the home are caused by falls, and the majority of them take place in the bathroom. This confined space with hard, wet surfaces can be treacherous at any age, but children under five and adults over 70 have the highest rates of unintentional falls. Fortunately, it's easy to make this room safer for your children, parents and yourself:
* Install a night light to make nighttime trips to the bathroom easier and safer to navigate.* Use adhesive-backed, non-slip tread strips on tub/shower floors to reduce the chance of falls.* Mount grab bars to provide assistance when getting in and out of the tub. New products, such as Home Care by Moen's SecureMount Grab Bars are easy to install and can be mounted vertically, horizontally or even diagonally. Now with the SecureMount anchor system, the grab bars can be securely installed into any type of wall surface including dry wall, tile and tub surround, without a wood stud. Plus, they are available in a variety of designs and finishes to maintain a stylish bathroom appearance.* Add an elevated toilet seat to help relieve stress on mom and dad's knees, legs and back. Home Care by Moen offers a Locking Elevated Toilet Seat that sits securely on the toilet rim and locks into place for added safety.
Deter Dangers in the Den
The family room, or den, is often the social gathering point in the house. But it can quickly become cluttered with cords from lamps, appliances and video game controllers. Consider a few minor changes to eliminate some of the dangers in the den:
* Remove area rugs or carpets that can create tripping hazards.* Use wireless controllers for video games and computer appliances to eliminate the chance of falls, as well as an unsightly mess of cords.* Space furniture so there is a clear walkway for both active kids and parents with walkers or wheel chairs.
Keep Kitchens Clean and Clear
When not in the den, families spend the majority of their time in the kitchen. However, from sharp knives to hot temperatures, the kitchen can be a recipe for disaster. These few hints can make the heart of your home less hazardous:
* Bind long cords from coffee makers, toasters and other kitchen appliances and be sure they do not hang from the counter.* To prevent unintentional burns, never leave the stove unattended with children in the room. Consider purchasing protective knob covers to prevent children from turning on the stove.* Store sharp cutlery in a wood block or purchase shields to protect fingers from sharp cuts.
Safer, Happier, Homier
www.joeswanson.com
Joe Swanson www.joeswanson.com Minnessota Financial Advisor Website
(ARA) - It's not corned beef on rye or ham and cheese. The "sandwich" generation is the 40-something Americans, sandwiched between two generations: their parents and their children. And today, many are being squeezed by the responsibilities of caring for both -- often all in the same household.
But how do you prepare a household to meet the diverse needs that may range from infant to elderly? Luckily, recent innovations can help this generation make their home safer and more accessible for both their children and their parents while remaining functional and stylish.
Avoid the Bathroom Blues
About 30 percent of all accidents in the home are caused by falls, and the majority of them take place in the bathroom. This confined space with hard, wet surfaces can be treacherous at any age, but children under five and adults over 70 have the highest rates of unintentional falls. Fortunately, it's easy to make this room safer for your children, parents and yourself:
* Install a night light to make nighttime trips to the bathroom easier and safer to navigate.* Use adhesive-backed, non-slip tread strips on tub/shower floors to reduce the chance of falls.* Mount grab bars to provide assistance when getting in and out of the tub. New products, such as Home Care by Moen's SecureMount Grab Bars are easy to install and can be mounted vertically, horizontally or even diagonally. Now with the SecureMount anchor system, the grab bars can be securely installed into any type of wall surface including dry wall, tile and tub surround, without a wood stud. Plus, they are available in a variety of designs and finishes to maintain a stylish bathroom appearance.* Add an elevated toilet seat to help relieve stress on mom and dad's knees, legs and back. Home Care by Moen offers a Locking Elevated Toilet Seat that sits securely on the toilet rim and locks into place for added safety.
Deter Dangers in the Den
The family room, or den, is often the social gathering point in the house. But it can quickly become cluttered with cords from lamps, appliances and video game controllers. Consider a few minor changes to eliminate some of the dangers in the den:
* Remove area rugs or carpets that can create tripping hazards.* Use wireless controllers for video games and computer appliances to eliminate the chance of falls, as well as an unsightly mess of cords.* Space furniture so there is a clear walkway for both active kids and parents with walkers or wheel chairs.
Keep Kitchens Clean and Clear
When not in the den, families spend the majority of their time in the kitchen. However, from sharp knives to hot temperatures, the kitchen can be a recipe for disaster. These few hints can make the heart of your home less hazardous:
* Bind long cords from coffee makers, toasters and other kitchen appliances and be sure they do not hang from the counter.* To prevent unintentional burns, never leave the stove unattended with children in the room. Consider purchasing protective knob covers to prevent children from turning on the stove.* Store sharp cutlery in a wood block or purchase shields to protect fingers from sharp cuts.
Safer, Happier, Homier
www.joeswanson.com
Saturday, December 9, 2006
Personal Finance 101: A Young Person's Guide to Saving
Personal Finance 101: A Young Person's Guide to Saving
Joe Swanson, CRPS 401k Health Disability Income Minnesota swanson.joe@joeswanson.com 942 277 4259 www.joeswanson.com
(ARA) - Instant gratification, credit cards and I need it now. America's youth are growing up in a culture dominated by these ideas and values. So it's no surprise young adults today are not preparing for their financial futures.
Recently, Stowers Innovations, Inc. conducted an Internet survey of people interested in learning more about financial matters. Less than 10 percent of the 18 to 34 year olds surveyed have a specific plan for retirement at a specific age.
"Young people may think retirement is a long way off. But the truth is, if they don't start saving now, they may not be able to retire at all," said Sam Goller, executive director of Achieve Financial Independence Week (TM) and author of "Yes, You Can . . . Achieve Financial Harmony" and "Yes, You Can . . . Afford to Raise a Family." "The earlier people begin investing, the greater the likelihood they have of accumulating wealth. Why? It takes significantly less money to accomplish what you want when you have more time working for you."
Retirement isn't the only thing today's young adults are failing to consider. The Stowers Innovations survey found short-term savings are also an issue, with 48 percent of young adults admitting they do not have an emergency fund to cover three-months of living expenses should they face a financial crisis.
"For their own financial security, young adults need to have the mindset that the only person they can count on to take care of them is themselves," said Dr. Sheelagh Manheim, psychologist, co-author of "Yes, You Can . . . Find More Meaning in Your Life" and consulting psychologist for "Yes, You Can . . . Raise Financially Aware Kids." "I don't think any adult child willingly wants to live in their parent's basement. But that sometimes happens because some young people fail to plan and think long-term financially."
The following six tips are designed to help young adults analyze their current financial situation, pay off debt and save for the future.
Start Now: Don't procrastinate when it comes to saving for retirement; begin now. Take advantage of company sponsored retirement programs such as a 401(k) or Simple IRA. Another option is a Roth IRA. This individual retirement account will allow you to begin saving tax-free, and tax-free withdrawals may be made after age 59 and a half.
Get Rid of Debt: Today's "buy now, pay later" mentality has forced many Americans into debt. The GoodLife survey found more than 47 percent of adults 18 to 34 had over $8,000 in debt, not including a home mortgage. And 57 percent did not know how long it would take to pay off these debts. Analyze your current debt situation and create a plan that pays off the debt quickly. By paying off debt, you will have more money to save for the future.
Make a Plan and Stick to It: After analyzing your current financial situation, determine a financial plan that suits you. Once your plan is set, stick to it. Consistency is key. Be sure your plan includes measures to eliminate debt and save for the long- and short-term.
Say No to Credit Cards: Credit card companies regularly flood college campuses enticing students with free T-shirts and other gifts. While credit cards can be a useful financial tool when used properly, the key is paying them off every month and avoiding interest payments. Say no to credit card spending when you don't have the money to zero-out the balance each month.
Talk with your Parents: Almost 48 percent of young adults first learned about saving and financial planning from their parents. Ask your parents and find out what has worked for them and what hasn't. Learning from their mistakes can help prevent you from making your own, and learning from their successes can help point you in the right direction financially.
Finance 101: Educate yourself on financial planning. There are many great resources available, including magazines, books, financial planners and local banks. Surround yourself with as much knowledge as possible so you can make an educated financial plan that will carry you well into the future.
Courtesy of ARA Content
Joe Swanson www.joeswanson.com
Joe Swanson, CRPS 401k Health Disability Income Minnesota swanson.joe@joeswanson.com 942 277 4259 www.joeswanson.com
(ARA) - Instant gratification, credit cards and I need it now. America's youth are growing up in a culture dominated by these ideas and values. So it's no surprise young adults today are not preparing for their financial futures.
Recently, Stowers Innovations, Inc. conducted an Internet survey of people interested in learning more about financial matters. Less than 10 percent of the 18 to 34 year olds surveyed have a specific plan for retirement at a specific age.
"Young people may think retirement is a long way off. But the truth is, if they don't start saving now, they may not be able to retire at all," said Sam Goller, executive director of Achieve Financial Independence Week (TM) and author of "Yes, You Can . . . Achieve Financial Harmony" and "Yes, You Can . . . Afford to Raise a Family." "The earlier people begin investing, the greater the likelihood they have of accumulating wealth. Why? It takes significantly less money to accomplish what you want when you have more time working for you."
Retirement isn't the only thing today's young adults are failing to consider. The Stowers Innovations survey found short-term savings are also an issue, with 48 percent of young adults admitting they do not have an emergency fund to cover three-months of living expenses should they face a financial crisis.
"For their own financial security, young adults need to have the mindset that the only person they can count on to take care of them is themselves," said Dr. Sheelagh Manheim, psychologist, co-author of "Yes, You Can . . . Find More Meaning in Your Life" and consulting psychologist for "Yes, You Can . . . Raise Financially Aware Kids." "I don't think any adult child willingly wants to live in their parent's basement. But that sometimes happens because some young people fail to plan and think long-term financially."
The following six tips are designed to help young adults analyze their current financial situation, pay off debt and save for the future.
Start Now: Don't procrastinate when it comes to saving for retirement; begin now. Take advantage of company sponsored retirement programs such as a 401(k) or Simple IRA. Another option is a Roth IRA. This individual retirement account will allow you to begin saving tax-free, and tax-free withdrawals may be made after age 59 and a half.
Get Rid of Debt: Today's "buy now, pay later" mentality has forced many Americans into debt. The GoodLife survey found more than 47 percent of adults 18 to 34 had over $8,000 in debt, not including a home mortgage. And 57 percent did not know how long it would take to pay off these debts. Analyze your current debt situation and create a plan that pays off the debt quickly. By paying off debt, you will have more money to save for the future.
Make a Plan and Stick to It: After analyzing your current financial situation, determine a financial plan that suits you. Once your plan is set, stick to it. Consistency is key. Be sure your plan includes measures to eliminate debt and save for the long- and short-term.
Say No to Credit Cards: Credit card companies regularly flood college campuses enticing students with free T-shirts and other gifts. While credit cards can be a useful financial tool when used properly, the key is paying them off every month and avoiding interest payments. Say no to credit card spending when you don't have the money to zero-out the balance each month.
Talk with your Parents: Almost 48 percent of young adults first learned about saving and financial planning from their parents. Ask your parents and find out what has worked for them and what hasn't. Learning from their mistakes can help prevent you from making your own, and learning from their successes can help point you in the right direction financially.
Finance 101: Educate yourself on financial planning. There are many great resources available, including magazines, books, financial planners and local banks. Surround yourself with as much knowledge as possible so you can make an educated financial plan that will carry you well into the future.
Courtesy of ARA Content
Joe Swanson www.joeswanson.com
Friday, December 1, 2006
Blue Cross HSA now offers dental in Minnesota
Minnesota Financial Advisor
Blue Cross HSA now has an additional Dental Feature.
www.joeswanson.com
We had seen a rise in requests for Dental Insurance from our Individual HSA policy holders. This is a great addition to the Blue Cross HSA in Minnesota. Delta Dental is the partner in this.
Joe Swanson
Blue Cross HSA now has an additional Dental Feature.
www.joeswanson.com
We had seen a rise in requests for Dental Insurance from our Individual HSA policy holders. This is a great addition to the Blue Cross HSA in Minnesota. Delta Dental is the partner in this.
Joe Swanson
Thursday, November 23, 2006
Do I Need Disability Insurance?
Do I Need Disability Insurance?
Most of us are aware of the need for medical coverage, but we often neglect disability when determining our insurance needs. Disability insurance helps replace income lost because of an accident or illness. Few of us would have an adequate “war chest” for an extended battle with a loss of income.
Unfortunately, many of us will need disability income protection some time before we die. For people aged 45, two out of five will be disabled for more than 90 days before they reach age 65.1 Without disability insurance protection, a disability could spell financial disaster.
Disability at any age can disrupt income while medical expenses deplete your savings. Unless you have a battle plan, the effects of even a short-term disability can be financially and emotionally devastating.
Disability Protection
Disability insurance provides a financial safety net. In the event you experience a disability, the benefits provided by disability insurance effectively replace a portion of your earned income. Disability coverage can prove to be invaluable. And in many cases, disability insurance should be considered before taking steps to achieve other financial goals.
Designing a Disability Protection Plan
Appropriate disability coverage depends on your particular situation. However, there are a few issues you may want to consider.
First, consider carrying enough coverage to replace at least 60 percent of your earnings. Many companies limit benefits to between 50 percent and 80 percent from all sources of disability income prior to the disability. This would mean, for example, that the amount of any Social Security disability payments you receive would be deducted from your benefit amount. Remember, private disability benefits are usually tax-free.
Consider extending the time between when the disability occurs and when you start receiving benefits. Choosing a 90- or 180-day waiting period instead of a 30-day waiting period can lower your cost substantially.
Be sure to compare and review policy benefits carefully. Disability insurance can be an affordable alternative — an alternative many people can’t afford to be without.
Source: 1. 2005 Field Guide, National Underwriter Company, 2005
© 2006 Emerald Publications
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is
Most of us are aware of the need for medical coverage, but we often neglect disability when determining our insurance needs. Disability insurance helps replace income lost because of an accident or illness. Few of us would have an adequate “war chest” for an extended battle with a loss of income.
Unfortunately, many of us will need disability income protection some time before we die. For people aged 45, two out of five will be disabled for more than 90 days before they reach age 65.1 Without disability insurance protection, a disability could spell financial disaster.
Disability at any age can disrupt income while medical expenses deplete your savings. Unless you have a battle plan, the effects of even a short-term disability can be financially and emotionally devastating.
Disability Protection
Disability insurance provides a financial safety net. In the event you experience a disability, the benefits provided by disability insurance effectively replace a portion of your earned income. Disability coverage can prove to be invaluable. And in many cases, disability insurance should be considered before taking steps to achieve other financial goals.
Designing a Disability Protection Plan
Appropriate disability coverage depends on your particular situation. However, there are a few issues you may want to consider.
First, consider carrying enough coverage to replace at least 60 percent of your earnings. Many companies limit benefits to between 50 percent and 80 percent from all sources of disability income prior to the disability. This would mean, for example, that the amount of any Social Security disability payments you receive would be deducted from your benefit amount. Remember, private disability benefits are usually tax-free.
Consider extending the time between when the disability occurs and when you start receiving benefits. Choosing a 90- or 180-day waiting period instead of a 30-day waiting period can lower your cost substantially.
Be sure to compare and review policy benefits carefully. Disability insurance can be an affordable alternative — an alternative many people can’t afford to be without.
Source: 1. 2005 Field Guide, National Underwriter Company, 2005
© 2006 Emerald Publications
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is
How much life insurance do I need? from Joe Swanson.com
Click this link to decide how much life insurance you need.
http://www.joeswanson.com/content.cfm?ContentID=123
How Can My Charity and I Both Benefit from My Gift?
One popular estate planning technique is planned giving. Making a donation to a qualified organization provides some very attractive benefits.
You could receive an immediate income tax deduction. With a properly structured gift, you could realign your investment portfolio without paying capital gains tax on appreciated property. Another strategy may allow you to pass your estate on to your children while avoiding both probate and estate taxes.
To Whom Can You Give?
You’re free to give your property to whomever you choose. To retain the tax advantages associated with planned giving, however, your gift must be made to a qualified organization.
The vast majority of donations are made to charitable organizations. To qualify, a charitable organization must have been organized in the United States, be operated on a strictly non-profit basis, and not be politically active.
In addition to common charitable organizations, you may give to veterans’ posts, certain fraternal orders, volunteer fire departments, and civil defense organizations.
What Can You Give?
You can contribute almost anything to a qualified organization. The deduction limits are more restrictive for gifts other than cash, but you are free to give almost any property of value.
What Are the Gifting Strategies?
In addition to making an outright donation, there are a number of different gifting techniques you can use.
You can give life insurance. This enables you to give a large future gift at a relatively modest cost.
A charitable remainder trust allows you to retain an income interest in a future gift. With a charitable lead trust, you can give the income to the charitable organization and retain the principal for your heirs.
What Are the Benefits?
Making a planned gift can provide some significant benefits.
A charitable contribution may qualify you to receive a significant current income tax deduction.
Your deduction for an outright gift will equal the value of your gift up to certain generous limits. You can carry forward any gift amount that exceeds these limits for up to five years.
With a charitable lead trust, you can pass an appreciated asset onto your heirs with little or no estate taxes.
By using a charitable remainder trust, the Trustee can sell highly appreciated gifted investments and reinvest the proceeds to generate income without paying capital gains tax. Thus, a properly planned gift could enable you to realign your investment portfolio without incurring any current income taxes. That could allow you to diversify your holdings and even increase your cash flow.
The only thing you can’t do is take back your gift. You can’t start selling assets and then pocket the money. But you can change the charity that will eventually receive your gift.
Whatever gifting strategy you choose, planned giving can be very rewarding. It’s wonderful to see your gift at work and to receive tax benefits as well.
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Proper tax and legal advice should always be obtained.
© 2006 Emerald Publications
Joe Swanson, Minnesota Financial Advisor.
401k, ESOP, 403B, Investments, Insurance
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271
http://www.joeswanson.com/content.cfm?ContentID=123
How Can My Charity and I Both Benefit from My Gift?
One popular estate planning technique is planned giving. Making a donation to a qualified organization provides some very attractive benefits.
You could receive an immediate income tax deduction. With a properly structured gift, you could realign your investment portfolio without paying capital gains tax on appreciated property. Another strategy may allow you to pass your estate on to your children while avoiding both probate and estate taxes.
To Whom Can You Give?
You’re free to give your property to whomever you choose. To retain the tax advantages associated with planned giving, however, your gift must be made to a qualified organization.
The vast majority of donations are made to charitable organizations. To qualify, a charitable organization must have been organized in the United States, be operated on a strictly non-profit basis, and not be politically active.
In addition to common charitable organizations, you may give to veterans’ posts, certain fraternal orders, volunteer fire departments, and civil defense organizations.
What Can You Give?
You can contribute almost anything to a qualified organization. The deduction limits are more restrictive for gifts other than cash, but you are free to give almost any property of value.
What Are the Gifting Strategies?
In addition to making an outright donation, there are a number of different gifting techniques you can use.
You can give life insurance. This enables you to give a large future gift at a relatively modest cost.
A charitable remainder trust allows you to retain an income interest in a future gift. With a charitable lead trust, you can give the income to the charitable organization and retain the principal for your heirs.
What Are the Benefits?
Making a planned gift can provide some significant benefits.
A charitable contribution may qualify you to receive a significant current income tax deduction.
Your deduction for an outright gift will equal the value of your gift up to certain generous limits. You can carry forward any gift amount that exceeds these limits for up to five years.
With a charitable lead trust, you can pass an appreciated asset onto your heirs with little or no estate taxes.
By using a charitable remainder trust, the Trustee can sell highly appreciated gifted investments and reinvest the proceeds to generate income without paying capital gains tax. Thus, a properly planned gift could enable you to realign your investment portfolio without incurring any current income taxes. That could allow you to diversify your holdings and even increase your cash flow.
The only thing you can’t do is take back your gift. You can’t start selling assets and then pocket the money. But you can change the charity that will eventually receive your gift.
Whatever gifting strategy you choose, planned giving can be very rewarding. It’s wonderful to see your gift at work and to receive tax benefits as well.
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Proper tax and legal advice should always be obtained.
© 2006 Emerald Publications
Joe Swanson, Minnesota Financial Advisor.
401k, ESOP, 403B, Investments, Insurance
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271
http://www.joeswanson.com/location.cfm
http://www.joeswanson.com/location.cfm
Contact Joe Swanson, CRPS at www.joeswanson.com
swanson.joe@joeswanson.com
952 277 4259
Contact Joe Swanson, CRPS at www.joeswanson.com
swanson.joe@joeswanson.com
952 277 4259
Sunday, November 19, 2006
Find a Minnesota Fee Based Financial Planner or a Minnesota Fee Based Financial Advisor
Find a Minnesota Fee Based Financial Planner or a Minnesota Fee Based Financial Advisor
I would try a financial advisor search in your state. Try the links below for more information! Here are 5 questions to ask:
Did they own a business before becoming an advisor
Do they work with a team
How often will they meet with you (should be at least once a year for plans and willing to meet once a qtr for fee-based money management.
Try the links below for a fee based planner in Minnesota, and other states.
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
I would try a financial advisor search in your state. Try the links below for more information! Here are 5 questions to ask:
Did they own a business before becoming an advisor
Do they work with a team
How often will they meet with you (should be at least once a year for plans and willing to meet once a qtr for fee-based money management.
Try the links below for a fee based planner in Minnesota, and other states.
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
Saturday, November 18, 2006
Home Research Articles Types of Health Care
Home → Research Articles → Types of Health Care
What Types of Health Coverage Are Available?
Although many people take the necessary steps to ensure good health, it’s easy to take your health for granted. Yet the possibility of having to endure a lifelong illness or the loss of normal body functions does exist. And today, health problems can often mean high medical costs.
Staggering health-care costs have driven both the demand for and the price of medical insurance sky high. The availability of group coverage through employment has helped many Americans face such costs. However, people who are not currently covered by an employer have few affordable sources for group coverage. If you are not covered at work, inquire about coverage through your religious organization, professional organizations, or alumni association.
Individuals seeking medical coverage on their own can rely on an individual policy. And if you’re elderly, you can also rely to a limited degree on the benefits provided under Medicare.
Basic
Basic health-care insurance covers hospital room and board, medical equipment and supplies, regular health-care services, and sometimes outpatient care, up to a specified limit. Unfortunately, it is not considered adequate medical coverage. The maximum benefit is not high enough to cover a long-term or catastrophic illness. And the benefits do not keep up with rapidly rising medical costs. Many advisors recommend adding a supplementary major medical plan or upgrading basic coverage to a comprehensive plan.
Major Medical
Major medical covers health-care costs after a high deductible has been met. After this, the insurer and the patient share medical costs, with the insurer usually bearing 70 to 80 percent of the expense, while the remaining portion, called coinsurance, is paid by the insured. Coinsurance is usually limited to a certain dollar amount, after which the insurer pays 100 percent. If major medical coverage with a low maximum benefit is offered by an employer, you can also purchase an excess major medical coverage policy to supplement the benefits of the company policy.
Comprehensive Medical
Comprehensive medical insurance combines basic coverage with a major medical plan. This eliminates the paperwork involved in having several health plans and may also reduce out-of-pocket costs because you have to satisfy only one deductible. The maximum benefit is specified in the policy. Be sure to review policy features carefully. In order to help keep premiums within reach, you may want to consider a deductible at the dollar amount for which you can safely self-insure. Remember, the cost and availability of an individual health insurance policy can depend on factors such as age, health (pre-existing conditions), and the type and amount of insurance purchased. In addition, a physical examination may be required.
Medicare
Medicare is the U.S. government’s health-care insurance program for the elderly. It is available to people aged 65 and older as well as certain disabled persons.
Part A, hospital insurance, provides basic coverage for hospital care as well as limited skilled nursing and home health care.
Part B, supplementary medical insurance, costs $88.50 per month. It covers 80 percent of reasonable health-care costs after a $100-per-year deductible has been satisfied.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
What Types of Health Coverage Are Available?
Although many people take the necessary steps to ensure good health, it’s easy to take your health for granted. Yet the possibility of having to endure a lifelong illness or the loss of normal body functions does exist. And today, health problems can often mean high medical costs.
Staggering health-care costs have driven both the demand for and the price of medical insurance sky high. The availability of group coverage through employment has helped many Americans face such costs. However, people who are not currently covered by an employer have few affordable sources for group coverage. If you are not covered at work, inquire about coverage through your religious organization, professional organizations, or alumni association.
Individuals seeking medical coverage on their own can rely on an individual policy. And if you’re elderly, you can also rely to a limited degree on the benefits provided under Medicare.
Basic
Basic health-care insurance covers hospital room and board, medical equipment and supplies, regular health-care services, and sometimes outpatient care, up to a specified limit. Unfortunately, it is not considered adequate medical coverage. The maximum benefit is not high enough to cover a long-term or catastrophic illness. And the benefits do not keep up with rapidly rising medical costs. Many advisors recommend adding a supplementary major medical plan or upgrading basic coverage to a comprehensive plan.
Major Medical
Major medical covers health-care costs after a high deductible has been met. After this, the insurer and the patient share medical costs, with the insurer usually bearing 70 to 80 percent of the expense, while the remaining portion, called coinsurance, is paid by the insured. Coinsurance is usually limited to a certain dollar amount, after which the insurer pays 100 percent. If major medical coverage with a low maximum benefit is offered by an employer, you can also purchase an excess major medical coverage policy to supplement the benefits of the company policy.
Comprehensive Medical
Comprehensive medical insurance combines basic coverage with a major medical plan. This eliminates the paperwork involved in having several health plans and may also reduce out-of-pocket costs because you have to satisfy only one deductible. The maximum benefit is specified in the policy. Be sure to review policy features carefully. In order to help keep premiums within reach, you may want to consider a deductible at the dollar amount for which you can safely self-insure. Remember, the cost and availability of an individual health insurance policy can depend on factors such as age, health (pre-existing conditions), and the type and amount of insurance purchased. In addition, a physical examination may be required.
Medicare
Medicare is the U.S. government’s health-care insurance program for the elderly. It is available to people aged 65 and older as well as certain disabled persons.
Part A, hospital insurance, provides basic coverage for hospital care as well as limited skilled nursing and home health care.
Part B, supplementary medical insurance, costs $88.50 per month. It covers 80 percent of reasonable health-care costs after a $100-per-year deductible has been satisfied.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
What Is the Difference Between an HMO and a PPO?
What Is the Difference Between an HMO and a PPO?
Since the ’70s, the market has shifted from traditional fee-for-service health insurers to health maintenance organizations (HMOs) and preferred provider organizations (PPOs). HMOs and PPOs can cost much less than comprehensive individual policies.
An HMO provides comprehensive health care services to the insured for a fixed periodic payment. There may also be a nominal fee paid for each visit to a health care provider. Unlike traditional insurance, HMOs actually provide the health care rather than just making payments to health care providers. HMOs can have a variety of relationships with hospitals and physicians. Plan physicians may be salaried employees, members of one independent multi-specialty group, part of a network of independent multi-specialty groups, or part of an individual practice association.
Because HMOs integrate health care providers with insurance, they are able to provide improved health care delivery. This unique relationship allows the HMOs to maintain a lower cost of service from plan providers. Because HMOs are provider and insurer, this allows for lower administrative costs and paperwork for the patient.
Through the use of managed care, HMOs and PPOs are able to bring down the costs of hospitals and physicians. Managed care is a set of incentives and disincentives for your physicians to limit what the HMOs and PPOs consider unnecessary tests and procedures. Managed care generally requires the consent of your primary care physician before you can see a specialist.
HMOs also try to bring down costs by providing preventive care. Because visits to primary care physicians are inexpensive, this increases the chance of early detection and care.
Preferred provider organizations have also contracted with hospitals and physicians to provide you with health care services. Unlike an HMO, you do not have to go to these physicians. However, you will pay more if you go outside the list of preferred providers. In a PPO plan, you will usually have a deductible, which is the amount that the insured must pay before the PPO begins to pay. When the PPO plan does start to pay, it will usually pay a percentage of the bill and you have to pay the rest, which is called coinsurance. Most plans will have an out-of-pocket maximum. This will protect you from paying more than a certain amount per year. After you pass this amount, the coinsurance percentage increases to 100 percent.
The out-of-pocket maximum, deductible, and coinsurance will each affect the cost of the PPO insurance coverage. You can lower your premiums by having as high of a deductible as you can afford to pay.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
Since the ’70s, the market has shifted from traditional fee-for-service health insurers to health maintenance organizations (HMOs) and preferred provider organizations (PPOs). HMOs and PPOs can cost much less than comprehensive individual policies.
An HMO provides comprehensive health care services to the insured for a fixed periodic payment. There may also be a nominal fee paid for each visit to a health care provider. Unlike traditional insurance, HMOs actually provide the health care rather than just making payments to health care providers. HMOs can have a variety of relationships with hospitals and physicians. Plan physicians may be salaried employees, members of one independent multi-specialty group, part of a network of independent multi-specialty groups, or part of an individual practice association.
Because HMOs integrate health care providers with insurance, they are able to provide improved health care delivery. This unique relationship allows the HMOs to maintain a lower cost of service from plan providers. Because HMOs are provider and insurer, this allows for lower administrative costs and paperwork for the patient.
Through the use of managed care, HMOs and PPOs are able to bring down the costs of hospitals and physicians. Managed care is a set of incentives and disincentives for your physicians to limit what the HMOs and PPOs consider unnecessary tests and procedures. Managed care generally requires the consent of your primary care physician before you can see a specialist.
HMOs also try to bring down costs by providing preventive care. Because visits to primary care physicians are inexpensive, this increases the chance of early detection and care.
Preferred provider organizations have also contracted with hospitals and physicians to provide you with health care services. Unlike an HMO, you do not have to go to these physicians. However, you will pay more if you go outside the list of preferred providers. In a PPO plan, you will usually have a deductible, which is the amount that the insured must pay before the PPO begins to pay. When the PPO plan does start to pay, it will usually pay a percentage of the bill and you have to pay the rest, which is called coinsurance. Most plans will have an out-of-pocket maximum. This will protect you from paying more than a certain amount per year. After you pass this amount, the coinsurance percentage increases to 100 percent.
The out-of-pocket maximum, deductible, and coinsurance will each affect the cost of the PPO insurance coverage. You can lower your premiums by having as high of a deductible as you can afford to pay.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
Joe Swanson Image
Joe Swanson Image
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
To contact us http://www.joeswanson.com/location.cfm
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Advisor
This information should be correct the day it is posted
This information should be correct the day it is posted
Do I Need A Financial Advisor?
Do I Need A Financial Advisor? Let's start with a more fundamental question: how much can I improve my financial situation? You might be thinking, "I have a good salary, I pay my bills on time, I know how to do my taxes, I have insurance... I'm handling my finances pretty well; spending time and money on financial planning is not worth it for me." Many people think this way, but often it is because of a lack of awareness of financial opportunities and best practices. Indeed, time spent devising and implementing a well-researched and sound financial plan will likely yield: More money for you and your family Better preparation and flexibility for life changes Increased protection against mistakes and unexpected circumstances An investment in financial management provides peace of mind by ensuring your best odds of permanent wealth and comfort. This planned approach to success is the result of a multi-step process. You must: Set achievable financial and personal goals Assess your current financial health by examining your assets, liabilities, income, insurance, taxes, investments and estate plan Develop a realistic, comprehensive plan to meet your financial goals by addressing financial weaknesses and building on financial strengths Put your plan into action and monitor its progress Revise your plan to accommodate changing goals, changing personal circumstances, changing financial opportunities, and changing market and tax laws The planning process requires skill, knowledge, diligence, and discipline, but great reward makes it well worth the time and effort. Can I do it on my own? The question is, do you need professional help in order to design and stick to an effective financial plan? To some degree, this depends on your unique situation, but most will find that they are better off seeking the information, expertise, experience, and discipline provided by a financial advisor. Making quality financial decisions requires an ample commitment to learn and research. While the Internet's easy access to information has helped to make it feasible for individuals to independently manage their finances, the magnitude of investment skills and information that you need can be overwhelming. The financial world is filled with foreign concepts, esoteric language, legal rules, and difficult methodologies. Whether you want to develop a portfolio, plan for retirement, pay for college, or reach any other major financial goal, there are professionals who have spent their careers serving people with the same concern, and it is a good idea to take advantage of their experience. For the purpose of analogy, consider the manufacturing of televisions. Since they make so many televisions, Sony has grown to be good at it. They can make a high-quality television for a just a few hundred dollars. Consider how much it would cost you to make your own television; you might be able to do it, but it would take a huge commitment of time and money to learn the science, purchase the materials, and execute the necessary procedures. And the finished product would likely be shabby in comparison. Financial decision-making is the same. You can make financial decisions by yourself or buy advice from an experienced professional. The financial decisions of individuals are commonly costly and mediocre, and, alternatively, the appropriate financial professional will make good decisions for you at a comparatively low cost. What will I get from a financial advisor? Professional financial help goes far beyond picking stocks. Hiring an advisor arms you with expertise and resources with which to approach planning your financial future. This coaching and support can help you to smoothly endure and make the most of the circumstances in your life - career, marriage, children, assets, liabilities, etc. Specifically, financial professionals can help to: Avoid costly mistakes, manage risk, save time, and improve your overall investment results. Guide you through the maze of retirement options -- 401(k), IRA, Roth IRA, pensions, annuities, Keoghs, etc -- and can put you on course to have the type of retirement you've always dreamed of. Decrease your estate tax liability, thereby aiding the financial stability of your loved ones. Reach your education savings goals through 529 Plans, Coverdell savings accounts, and other techniques. Determine the type and amount of insurance you need to protect yourself, your family, and your assets. Minimize your taxes, file your tax returns, and plan to reduce future tax impact. If you own a business, develop a strategy to manage your business finances, including cash management, financing, employee benefits, and corporate taxes.Furthermore, a financial professional provides the emotional discipline required to make sure plans are acted upon. S/he provides guidance, reassurance, support and stability to help you stay on course and reach your long-term goals. Okay, so I'd benefit from an advisor - what now? Choosing an advisor is a crucial aspect of planning your financial future. Hiring an advisor that is not well-suited to your needs is a danger that must be avoided through sound research. The purpose of WiserAdvisor is to streamline this daunting task by quickly and efficiently matching your preferences to reputable advisors that are ideally suited to your needs.
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Minnesota Financial Planner Minnesota Financial Advisor
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http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
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http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
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http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
You can purchase health insurance in Minnesota joe swanson www.joeswanson.com 952 277 4259
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